$PEPE
🚨 PEPE Coin Rally Marks Triangle Breakout 🚨
Pepe coin price reversal has surged 137% in the last 60 days from the $0.00000525 low formed on March 11. The bullish revival pumped Pepe to levels last seen on Feb 1 of $0.00001391. With a strong comeback, the frog-themed meme coin has breached the 50% Fibonacci level at $0.00001222 and marked a triangle breakout.
The exhaustion in PEPE price hitting an all-time high at $0.00002836 on December 9 led to multiple lower highs, creating a resistance trendline. The bearish trend bottomed on the March 11 swing low and hit the reversal button, creating a short-term support trendline. The covering trend lines formed a triangle pattern, and the Pepe coin gave a decisive breakout with the ~35% rally on May 8. Adding the internal height of the triangle to the breakout point provides a 161% price target near $0.000022.
The uptrend in PEPE faces opposition from the 200-day Simple Moving Average (SMA). However, the growing bullish influence on the 50- and 100-day SMA hints at a positive crossover. Furthermore, the MACD and signal line regain signal rising upward momentum with the recent crossover.
Based on the Fibonacci levels, the Pepe coin price prediction of a 161% rally to $0.000022 will likely continue to the 100% level at $0.00002649. A potential breakout could bring $0.000040 to investors’ attention as the next all-time high.
On the flip side, the $0.000010 is a key psychological support for Pepe, followed by the $0.0000090 demand zone. A breakdown under $0.0000090 will negate the triangle breakout rally thesis and could trigger a pullback to $0.00000563.